The president outlines his plan for protecting the oil market from speculators and manipulators.
This week, President Obama announced policy measures to enhance the surveillance of oil futures markets. The president stressed that the new measures would not bring down gasoline prices overnight, but implied that they would lower gas prices in the long run because more oversight would deter market manipulation.
Sen. Mitch McConnell (R) Minority Leader on why gas prices are so high, the 2012 elections and Obama's policies.
U.S. gas prices showed their smallest increase since early January -- and may be nearing or past their peak if the price of crude oil holds steady, according to a national survey published Sunday.
For most Americans, energy policy right now is all about gasoline prices. And given the political claims and counterclaims on this issue being tossed about, it's no wonder that the public is both skeptical and confused. Republicans charge that the president is responsible for higher prices at the pump, and a certain GOP presidential hopeful has even been so bold as to promise a return to $2.50 a gallon gasoline.
Senate Republicans on Thursday blocked a Democratic measure championed by President Barack Obama to end tax breaks for the major oil companies.
Your pain at the pump is the U.S. Senate's top issue this week.
U.S. gas prices jumped more than 11 cents per gallon over the past two weeks, but may be peaking as the price of crude oil holds steady, according to the latest Lundberg Survey.
Thanks to the circular firing squad nature of the 2012 Republican presidential primaries, it had begun to look as if President Obama would coast to re-election in November.
A committee hearing Tuesday on the Department of Energy's use of stimulus funding kept returning to rising gas prices as Republicans hammered Secretary Steven Chu over the pain at the pump.
Confronted with recent polling suggesting rising gas prices may already be damaging President Obama's political standing ahead of the summer driving season, the president on Thursday reiterated the case that neither he, nor any other politician, has the power to bring down prices in the short term.
President Obama discusses rising energy costs at a community college in Largo, Maryland.
Gasoline prices have jumped another 12 cents over the past two weeks, according to a survey published Sunday.
President Obama faces a drop in approval ratings due in part to rising gas prices. CNN's Jessica Yellin Reports.
The nationwide average for gasoline prices rose for the 26th straight day Sunday, topping the $3.76-a-gallon mark, according to the motorist group AAA.
The nationwide average for gasoline prices surged Saturday, approaching the $3.76-a-gallon mark, according to the motorist group AAA.
Those hoping for gas prices to turn around and start falling should be careful what they wish for. If consumers get significant relief from prices, it could well be due to a new recession that's far more painful than the gas pains they're now feeling.
Becky Anderson takes a ride around London to show how much fuel costs and an alternative fuel you can get plugged into.
Consumers flocked to auto dealerships in February at the strongest pace in four years, hungry to buy fuel-efficient vehicles and to upgrade to newer trucks.
February has been one heck of a month for American motorists, who have been hit with an 8% spike in the price of gas. And things are expected to get worse during the summer driving season, when gas prices could break their current record.
Gas prices approaching $4 a gallon on average are causing severe economic pain for millions of Americans. Pump prices spiked 5% in the past month alone. Crude oil prices stood at $108 on Friday, up from only double digits at the beginning of the month.
Businesses that rely on fuel to get their products directly to customers are bracing for a sharp rise in gas prices.
When gas prices are climbing, as they are now, there's an equivalent surge in talk of tapping the nation's Strategic Petroleum Reserve
On the surface, it doesn't make sense. Still hurting from the economic crash, Americans are driving less and buying more fuel-efficient cars. The United States is producing more of its own oil and natural gas than it has in a long time. Yet the price we pay to fill up our gas tanks keeps going higher. It's close to $4 a gallon in many parts of the country and climbing.
Are gas prices making you want to pull your hair out? CNN's Ali Velshi explains why we're to blame for high gas prices.
Gas prices have gained 12 cents this week, as tensions over Iran heat up and oil prices keep moving higher.
Gas prices are surging, and quickly headed toward $4 a gallon, as growing tensions over Iran sparks a run-up in oil prices.
Tensions with Iran are adding at least 30 cents to a gallon of gasoline in the United States, and experts say gas prices have only just begun to rise.
Inflation picked up slightly last month, as rising gas prices took a bigger bite out of consumers' wallets.
Inflation overall held steady last month, as declining gas prices balanced out higher prices for other items.
The new year has greeted Americans with the highest January gas prices ever, and some analysts say prices could get close to $5 a gallon in some areas during the warm-weather driving season. The average price for a gallon of regular unleaded gasoline in the United States on Monday was $3.39, according to motorist group AAA. That's nearly 30 cents higher than a year ago.
Gas prices in the United States fell more than 5 cents over the past two weeks as crude oil prices dropped, continuing a decline in pump prices that started in late October, according to a survey published Sunday.
A perpetual deadlock in Congress has resulted in eight extensions of the national transportation bill, causing roads to crumble, bridges to fall, and transit to break down.
Gas prices have fallen over the past two weeks, continuing their slide despite an increase in crude oil prices, according to a survey published Sunday.
U.S. gasoline prices dipped by nearly a nickel per gallon ahead of the Thanksgiving holiday as cheaper crude and slumping demand kept pressure on costs, the latest nationwide survey found.
U.S. gas prices dipped nearly 4 cents a gallon over the past two weeks as the slumping economy kept pressure on demand for fuel, according to a survey released Sunday.
U.S. gasoline prices have held steady over the past two weeks and could soon drop due to lagging demand, the latest Lundberg Survey found.
Oil prices are falling once again, and relief at the gas pump is likely on the way too.
Falling prices at the pump pushed inflation lower in June, but consumers are still paying significantly more than they were last summer.
Drivers will soon be able to get back an additional 4.5 cents per mile that they rack up for business purposes thanks to a new Internal Revenue Service rule announced Thursday. The rare mid-year decision was fueled by the recent rise in gas prices.
Boosting the nation's oil supply could lower gas prices as much as 50 cents a gallon, but relief at the pump is still weeks away.
Nobody likes soaring gas prices -- not motorists, not consumers, not business owners, not elected officials. Now, even a Saudi prince, whose family's massive wealth is built on oil, is complaining about the high price of gasoline.
The military's innovation lab, Defense Advanced Research Projects Agency, creates the best technology in the world.
General Motors CEO Dan Akerson said his company and his industry would be helped, not hurt, if consumers paid higher gas taxes.
The high price of gas is forcing many Americans to change their travel plans for the Memorial Day weekend, according to a survey released Friday.
Americans aren't canceling their travel plans for Memorial Day weekend, despite gas prices at or near record highs in many parts of the country, according to an annual forecast released Thursday.
Washington lawmakers are kicking around a new idea to help raise funds to fix our highways and infrastructure: a national driving tax charging motorists by the mile.
Rep. Martha Roby discusses the importance of increasing U.S. energy production to lower gas price and increase security.
Despite all the noise coming from Congress over high gas prices, oil company profits or more drilling, in reality there's very little lawmakers can do to bring down the price of fuel.
When gas prices started spiking again this month, President Barack Obama turned to a move that worked in the past: Make noise and talk tough about price gouging, then direct his attorney general to launch an investigation.
The political playbook on gas prices hasn't changed much over the years. Dana Bash takes a look.
The high price of gasoline is changing the driving and spending habits of Americans, and the public blames speculators and oil companies for the price spike, according to a new CNN/Opinion Research Corporation survey.
The average gas price in the United States has hit the $4 mark, just 11 cents shy of the all-time high, according to a survey published Sunday.
The recent surge in gas prices showed some signs of cracking Friday, but economists say consumers shouldn't get their hopes up yet.
We have recently been witnessing political unrest and military conflict in North Africa and the Middle East and a surge in world oil prices. If you have the feeling you've seen this story before, you're right.
Despite higher gas prices, auto sales rose in the Untied States in April, including a larger-than expected gain for General Motors.
At first glance, it seems like a great time to buy a refinery. The price of gas is hovering around $4 and will likely stay high heading into the summer months. (Even news of Osama bin Laden's death hasn't moved prices much.) But a closer look shows refiners are actually trapped between two sets of players in the oil industry -- providers who deliver crude oil to them for refining, and customers who buy their finished products.
After jumping more than 3 cents over the weekend, gas prices across America could top $4 a gallon this week, according to one industry analyst.
Thinking of spending a weekend in Paris this spring? Think again.
Gasoline prices have been rising for months and are within striking distance of their 2008 all-time high of $4.11 a gallon. But while oil prices are above $100 a barrel, they're still 24% below their 2008 all-time high.
Chicago is not your kind of town when you pull into a local gas station.
Gas prices jumped more than 11 cents over the past two weeks, but the pace of higher pump prices has slowed and they may have peaked, according to a survey published Sunday.
Every time gas prices reach record highs the call goes out for more oil drilling. This year it's no different.
One Knoxville church gave back to the community by giving away $10,000 in gasoline.
At a Connecticut gas station, gas prices have climbed up to 4.99 per gallon, though you get a free drink when you pump.
Prodded by growing public frustration over sharply rising gasoline prices, the Justice Department on Thursday announced the formation of a team -- the "Oil and Gas Price Fraud Working Group -- tasked with the goal of ensuring consumers are not victims of price gouging.
It's hard to believe that it was only five months ago that General Motors made a triumphant return to the public markets.
With unrest in many key oil-producing countries, a solution to rising gas prices is a major concern. Liz Shelby reports.
Airlines are experiencing a bad case of déjà vu. Faced with jet fuel prices 50% above their levels just a year ago, the carriers tried to hike ticket prices last weekend for the eighth time this year. The first six went through without a problem, boosting the average fare in major markets by about 14%, according to FareCompare.com. And if you go back to mid-December, airlines were nine-for-nine in fare increases.
Eye-popping gas prices on a weekend trip to Yosemite National Park in California have Damaris Santos-Palmer rethinking a family road trip.
If you're in the market for a new car, but especially if you're looking at a fuel-efficient Japanese model, experts say you're better off buying now because prices will only get higher in coming weeks as the effects of the earthquake in Japan and the unrest in Libya and the Middle East start to be felt.
Peter Beutel correctly predicted the recent rise in gas prices. Now, he's giving his predictions for the coming months.
Anyone who's been behind the wheel of a car in the last few months has experienced a sharp pain when it came time to pay the gas tab. Prices ranging from $3.75 to $4.00 per gallon are not uncommon these days. And according to the United States Department of Energy, consumer fuel prices on average in the U.S. are up 21.8% from one year ago.
Gasoline prices dipped for a second straight day on Wednesday, providing a reprieve to motorists after a 20-day streak of gains, even though they're expected to rise again.
Democratic Sen. Dick Durbin said Sunday that he thinks rising gas prices might hamper the country's economic recovery.
I saw my first $4 gallon of gas since 2008 this week, and it's not a surprise considering all the governmental uncertainty in the oil-producing world. What is surprising is that despite the cost increases, people still get angry when airlines try to raise fares.
An oil spike has a way of making market watchers nervous, and retail investors are no exception. After going on a tear in 2009 and 2010 -- the S&P 500 retail index rose 78% and 37%, respectively, more than doubling the performance of the broader index in both years -- retail stocks have begun to falter. Surging gas prices have cast a pall over the sector, which is up just 0.7% so far this year, while the S&P is up 3.4%.
If you think gasoline is expensive now, just wait. In the weeks to come, you'll be looking back at today's prices with a poignant sense of longing, if the forecasts become reality.
Americans often fret about the price of gasoline, which has surged dramatically in recent days, fueled by turmoil in oil-producing nations in the Middle East and North Africa.
Hey California, stop whining about $4 gas. As gas prices have surged 13% over the last month, Mississippi is feeling the worst pain at the pump.
Gas prices rose Tuesday for the 14th straight day, with drivers in some parts of the United States now paying more than $3.90 a gallon.
CNN's Don Lemon talks to John Davis of PBS' "MotorWeek" about the rise in gas prices and new hybrids and electric cars.
There's perhaps never been a more precarious time for gasoline prices.
Gas prices jumped 4 cents overnight, with the average American driver now paying more than $3.40 a gallon.
Rising gas prices did not keep Americans from buying large pickups and SUVs in February, according to sales results from leading automakers.
Whenever a gas price story is published on this site, astute readers write in to say that gas is in their area is much more expensive than the nationwide average.
Gas prices have increased 17 cents a gallon in the past week. And analysts expect prices to continue higher, following a sharp rise in the price of crude oil.
Gas prices jumped 6 cents overnight, as the recent spike in oil prices begins to hit filling stations across America.
Gas prices are up nearly 6 cents this week and analysts say this is just the beginning, as oil prices soar on political strife in North Africa and the Middle East.
The price that your parents pay to fill up the family car is rising. Ever stop to think about what's behind the price at the pump? Here's a look at where the money goes when you buy a gallon of regular gasoline.
From lifting a lead foot to choosing a more fuel-efficient vehicle, experts believe the price of gasoline is now high enough to change driving habits.
John Hofmeister, former president of Shell Oil, predicts we'll be paying $5 a gallon by 2012 because of global demand.
The U.S. economy is slowly but surely nursing itself back to health.
The Pakistani government has reversed a recent hike in fuel prices, an effort that could help shore up the country's crumbling governing coalition.
Drivers may be bracing for more pain at the pump in 2011 as gas prices continue to head higher.
CNN's Rafael Romo explains how South American countries are struggling with fuel prices.
The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.
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